Equities analysts expect Foundation Building Materials Inc (NYSE:FBM) to post $574.20 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Foundation Building Materials’ earnings. The lowest sales estimate is $525.00 million and the highest is $604.10 million. Foundation Building Materials reported sales of $535.45 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.2%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, November 6th.
On average, analysts expect that Foundation Building Materials will report full-year sales of $2.24 billion for the current financial year, with estimates ranging from $2.01 billion to $2.32 billion. For the next year, analysts forecast that the company will post sales of $2.29 billion, with estimates ranging from $2.13 billion to $2.48 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Foundation Building Materials.
Foundation Building Materials (NYSE:FBM) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.06). The company had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.66 million. Foundation Building Materials had a net margin of 3.72% and a return on equity of 5.15%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS.
A number of brokerages have recently commented on FBM. Evercore ISI began coverage on shares of Foundation Building Materials in a research note on Thursday, June 28th. They issued an “in-line” rating and a $17.00 target price on the stock. Deutsche Bank raised their target price on shares of Foundation Building Materials from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Zacks Investment Research raised shares of Foundation Building Materials from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Tuesday, July 10th. Barclays cut their target price on shares of Foundation Building Materials from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, August 13th. Finally, ValuEngine downgraded shares of Foundation Building Materials from a “hold” rating to a “sell” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.63.
Several hedge funds have recently modified their holdings of the company. Guggenheim Capital LLC purchased a new stake in Foundation Building Materials during the 1st quarter worth $1,166,000. Bank of Montreal Can purchased a new stake in Foundation Building Materials during the 2nd quarter worth $174,000. Globeflex Capital L P purchased a new stake in Foundation Building Materials during the 2nd quarter worth $193,000. Intrinsic Edge Capital Management LLC purchased a new stake in Foundation Building Materials during the 2nd quarter worth $1,999,000. Finally, GSA Capital Partners LLP increased its stake in Foundation Building Materials by 23.9% during the 2nd quarter. GSA Capital Partners LLP now owns 46,414 shares of the company’s stock worth $714,000 after buying an additional 8,945 shares during the period. 93.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of FBM traded down $0.11 during mid-day trading on Tuesday, reaching $10.94. The company had a trading volume of 65,512 shares, compared to its average volume of 120,720. The firm has a market cap of $469.26 million, a PE ratio of 24.31 and a beta of 0.25. Foundation Building Materials has a fifty-two week low of $10.75 and a fifty-two week high of $16.40. The company has a quick ratio of 1.60, a current ratio of 2.41 and a debt-to-equity ratio of 1.66.
Foundation Building Materials Company Profile
Foundation Building Materials, Inc distributes building products in the United States and Canada. It operates through two segments, Specialty Building Products and Mechanical Insulation. The Specialty Building Products segment distributes wallboard, metal framing, suspended ceiling system, and other products.
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